Australia is on the cusp of experiencing one of the largest intergenerational wealth transfers in history. Known as the “Great Wealth Transfer” this phenomenon is expected to see an estimated AUD $3.5 trillion pass from Baby Boomers to younger generations over the next two decades. This unprecedented transfer of wealth underscores the critical importance of estate planning for Australians of all ages.
How to Find Cheap Life Insurance in Australia
Wondering how to find cheap life insurance in Australia? This guide provides you with a simple checklist so you can secure affordable coverage and get the most value out of your dollar.
Always start off with a strategy
“If I pass away or am injured and not able to work again, I want the mortgage to be paid off. I also want the fees for my kids schooling to be looked after so they don’t need to move around.”
Whilst this is just an example, starting off with a simple statement of what you want to happen if you were to pass away allows you to not only determine how much cover you might need now, but also in the future. Being clear on the outcomes you are covering for will allow you to confidently adjust your cover over time so that you are not paying any more cover and hence premiums than you need to.
What is a Black Credit Card?
Choosing the right credit card seems more complicated than ever thanks to a competitive financial marketplace and diverse product developments. Fortunately, Australian banks provide credit card options tailored to suit individual requirements. Banks generally differentiate their premium credit card options according to colours such as platinum, gold, or black, while lesser cards are not as imposing or opulent in appearance. Most banks in Australia and around the world advertise their black card as the premium product.
A Guide on Investing in the ASX
Many Australians and foreigners invest in the Australian Securities Exchange (ASX). Shares, bonds, exchange-traded funds (ETFs), and managed funds are only a few of the asset classes that investors can buy and hold or trade in the shorter term. If you have decided to invest your capital in exchange-traded assets, check out the following sections to find out more about investing in the ASX.
What is the ASX?
The Australian Stock Exchange is one of the largest in the world. The stock exchange contains stocks divided into 13 categories, ranging from banking and insurance to resources, information technology, and transport companies.
Money Transfer Services in Australia: Finding the Cheapest Rates for International Payments
International money transfers are an increasingly important aspect of the global economy. With the pandemic forcing people to work from home, along with the rise in remote working and freelancing, even small businesses are reliant on international money transfers.
Once borders open up again, it’s easy to see how the growth of digital nomading, remote work, and globalisation in general is meaning that the overseas remittance market is ever-expanding.
3 Ways to Get the Best Personal Loan
Personal loans are in great demand by the Aussie public – just look at the figures.
This year, August saw $391 million worth of loans for personal investment (which doesn’t include property!) get approved – the highest that figure has been since way back in the middle of 2015.
If you’re one of the thousands of Aussies looking at taking on a personal loan this year, here’s 3 ways you can get the best deal for the buck.
How to Improve Your Student Finances with a Personal Budget
Uni life taking its toll? If you seem chronically short of cash and struggling to pay for rent or groceries each week, you need a budget. A student’s finances won’t be princely sums to begin with, especially since we can’t work full-time amid our studies; but we can make our student finances stretch a bit further with some clever budgeting and some other financial tips.
Debt isn’t always bad: student loans for investing in yourself
What Is a Bank Overdraft Used For
Australians have a lot of financial obligations to keep track of. It’s not uncommon for a person to hold a dozen accounts with banks, lenders, service and utilities providers, clubs, retailers and more. Keeping financially afloat while the coffers are constantly diminishing is a wearying prospect, and the ongoing pressure of debt is a sign that things need to change. Loose spending and over-commitment can be reined in, but staying on top of finances requires a consistent and balanced approach. Often overlooked as a solution, a bank overdraft can provide smoother sailing for those who need to weather a financial storm.Timing the flow of funds is particularly useful for plugging cash flow gaps. Paying bills, clients and even employees can be difficult when expenses temporarily outpace income. Using an overdraft, it’s business as usual, without unwanted financial headaches and distractions.
Flexible bank overdraft arrangements mean the money is on hand whenever you need it. Interest is only paid on money used, so the overdraft facility can remain untouched and interest-free until needed. Flexible arrangements facilitate short-term and long-term overdrafts for meeting personal financial obligations and retaining composure even during occasional financial upheavals.
Late payment fees are an unwanted and unnecessary expense that way too many people experience on a regular basis. A bank overdraft facility will automatically make timely payments to business and service providers even when there is no balance in your account. Developing a relationship of trust and reliability with your bank results in financial give-and-take for everyone’s benefit.
Financial leverage is attained by accumulation of wealth, equity, and a good payment and credit history. A bank overdraft will ensure your credit record remains clean, while also helping you avoid embarrassing situations where a miscalculated bank balance leaves you short of ready cash.
Interest repayments on a bank overdraft are often minimal compared to other loans. With an overdraft, interest is only paid on funds utilised, whereas other loan arrangements demand regular and fixed monthly interest repayments.
The safety net of a bank overdraft provides peace of mind. Fluctuating fortunes can be balanced by using a bank overdraft for flexible access to money when it’s needed. When managed properly, an overdraft can provide leeway during times when money is short, with the account again replenished during more lucrative times. With an overdraft, funds are readily available, unlike other loan arrangements that lock borrowers in with rigid terms and conditions. Overdrafts have utility for both short and long term financial advantage when used wisely.
Advantages of a bank overdraft
A bank overdraft allows the withdrawal of funds in excess of the account balance. There are fees and interest involved, so understanding the advantages and disadvantages of a bank overdraft is essential to use it effectively. A history of responsible money management and a reliable income stream (or inconsistent but adequate earnings) are needed to access an overdraft facility. When used wisely, an overdraft can assist a person of average means to remain on top of finances, always having money on hand when required. There are quite a few bank overdraft facility advantages worth considering.
Debit Vs Credit? Which do Australians Prefer
Credit and debit cards have been in existence for decades and provide a familiar and convenient way to pay. The question is though, with the dash from cash, accelerated by Covid-19, what are the preferences of today’s Australian consumers when choosing between these two options? And what are the differences between debit and credit card protection?
To begin, we will explore the credit and debit card landscape in Australia.
Cryptocurrency Maps. Charts And Prices: Everything You Should Learn Before Investing In It
It’s safe to mention that cryptocurrency is risky. For one, inefficient trading may lead to more financial loss than gain. Still, it’s possible to reduce potential losses and increase profit opportunities by understanding the fundamentals. In particular, you should learn the ins-and-outs of cryptocurrency maps, charts, and prices.
Continue reading to know some essential aspects of these topics. By reading this article, you should gain sufficient knowledge of trading cryptocurrency.
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